A UEFA spokesperson said: “There is no investigation into Manchester City with regards to Financial Fair Play regulations. Any reports mentioning such an investigation are unsubstantiated.”

LaLiga’s complaints were made in a letter on August 22.

A statement issued on Monday read: “There will be an investigation following the formal complaint filed by LaLiga asking UEFA to inspect Paris Saint-Germain and Manchester City FC for violation of financial fair play regulations.

“LaLiga, the association of the best football teams in Spain, is pleased that UEFA has opened a formal investigation into financial fair play at Paris Saint-Germain (PSG).

“The investigation comes after LaLiga formally requested these tests from PSG and Manchester City FC in August.”

Acknowledging City were not actually being investigated, the statement then added: “LaLiga asks UEFA to continue its investigation, taking into account PSG’s history of actions. In addition, LaLiga asks UEFA to open a similar investigation to Manchester City.”

These issues have arisen after a summer transfer window in which PSG bought Neymar for a world record £198million and secured another Europe’s most highly-rated players, Kylian Mbappe, on a season-long loan. City spent more than £200million strengthening their squad.

(PA Graphics/PA)

LaLiga claims the finances at Qatari-owned PSG and Abu Dhabi-backed City “are not based on the market reality”.

LaLiga president Javier Tebas said: “The funding of PSG and Manchester City thanks to state aid distorts European competitions and creates an inflationary spiral that irreparably damages the football industry.”

City have been contacted by Press Association Sport for comment concerning the claims against them.

The Premier League club have been a frequent target for critics since their takeover by Sheikh Mansour’s Abu Dhabi United Group in 2008. They did fall foul of FFP regulations in 2014 and were hit with a fine, transfer spending cap and Champions League squad restriction. In recent years, however, the club have shown strong signs of financial independence and have recorded profits in their last two financial years.

Arsene Wenger speaks to Des Kelly after Arsenal's goalless draw with West Ham at the London ...

Arsene Wenger speaks to Des Kelly after Arsenal's goalless draw with West Ham at the London Stadium and blames fatigue a...

Arsene Wenger speaks to Des Kelly after Arsenal's goalless draw with West Ham at the London St...

Arsene Wenger speaks to Des Kelly after Arsenal's goalless draw with West Ham at the London Stadium and blames fatigue after a three day turnaround from their last Premier League match, for their inability to break the Hammers down.

Arsene Wenger speaks to Des Kelly after Arsenal's goalless draw with West Ham at the London Stadium and blames fatigue after a three day turnaround from their last Premier League match, for their inability to break the Hammers down.

Arsene Wenger speaks to Des Kelly after Arsenal's goalless draw with West Ham at the London Stadium and blames fatigue after a three day turnaround from their last Premier League match, for their inability to break the Hammers down.